Best Student Loan Refinancing Bonuses And Promo Offers
Student loan lenders can offer cash bonuses and promotional offers when you refinance a student loan with them. Many of these offers are unique to The College Investor readers because we’ve built these partnerships and only highlight the best offers for our readers.
These are referral links, meaning I do receive a commission if you refinance through these lenders. However, that doesn’t impact you in any way. We’re simply trying to showcase the best bonus offers for refinancing your student loans.
Remember, at the end of the day, don’t let $1,000 sway you. Shop around to find the best lender that meets your needs. A lower interest rate will probably outweigh any bonus offer over the course of the loan.
Our favorite comparison tool is Credible. The reason is they aren’t a lender, but a marketplace where you can compare a bunch of different offers at once. They offer College Investor readers a $1,000 gift card bonus if you refinance at least $100,000, otherwise it’s a $300 gift card bonus if you go through their platform.
Here’s our current list of the best student loan refinancing bonuses. We keep this list up to date as best as possible. These bonuses are based on our relationship with the student loan lender. You might find different offers elsewhere, but we strive to have the best available.
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$1,000 for $100k+, $300 for less than $100k |
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$1,000 for $150k+, $500 for less than $150k |
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$750 for $150k+, $300 for less than $150k |
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$599 for $100k+, $500 for $50k – $100k |
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$500 if refinance over $50k |
Remember to check out our list of the best places to refinance student loans as well.
Credible is our favorite marketplace for comparing student loans. They have almost a dozen different lenders that you can easily shop and compare on their platform. And as a College Investor reader, no matter what lender you actually choose – if you refinance on their platform you’ll get:
A $1,000 gift card bonus if you refinance at least $100,000 in student loans.
A $300 gift card bonus if you refinance less than $100,000 in student loans.
Check out our Credible review here.
Juno negotiates better student loan rates for groups of student loan borrowers. They currently have some great student loan refinance offers, and if you qualify, not only will you refinance your student loan to a better rate, but you can also take advantage of a sweet bonus.
Juno is currently offering College Investor readers a $1,000 bonus if you refinance a loan over $150,000, and a $500 bonus if you refinance under $150,000.
You can read our Juno student loans review here.
LendKey offers private student loans and student loan refinancing by connecting borrowers to its network of over 300 credit union and banking partners. With access to their large network of partner lenders, they offer some of the lowest rates you’ll find. Their loans have no origination fees or application fees, and you can check your rate online in just 2 minutes with no credit score impact.
LendKey is currently offering College Investor readers a $750 bonus if you refinance a loan over $150,000, and a $300 bonus if you refinance under $150,000.
That’s a great bonus, and you can apply here to get started.
You can read our LendKey review here.
ELFI has a long track record of helping borrowers refinance their student loans. Plus, they are consistently at the top of “best rate” charts and customer service rankings.
Just for being a College Investor reader, you get an awesome bonus:
That means, if you’re quick, and you sign up through our site, you can earn up to $599 towards your student loans!
If you’re organized, this can be an easy win for a substantial bonus. Check out our full ELFI review here.
This is the best bonus we see right now!
Splash Financial is a student loan marketplace that is currently partnered with a variety of credit unions and banks.
We highly recommend Splash to medical residents as they offer $100 payments on your refinanced loans during your residency and for up to 6 months afterward.
Splash is currently offering College Investor readers a $500 bonus if you refinance a loan over $50,000¹.
That’s a great bonus and you can apply here to get started.
You can read our Splash Financial Review here.
We get a lot of questions about why companies offer student loan bonus offers. Like everything else – it’s marketing. Some companies try to compete on rate and fees, others on repayment programs, and other by offering awesome incentives to refinance your student loans.
Your goal as a borrower should be to figure out the best combination of all of the above for your needs.
Here are some common student loan bonus offer FAQs:
Should I refinance my student loans?
Maybe – if you have private student loans, it can make sense to shop often and refinance when you can get a better rate. If you have Federal student loans, it doesn’t always make sense – since you lose the benefits Federal loans offers.
Is it possible to refinance Federal and private student loans together?
Yes, you can refinance all of your student loans together.
How do you get the best rate when you refinance?
To get the best rate when you refinance student loans, you typically need to have great income, credit, and you are taking out a short term loan (5 years or less). Variable rates are also typically lower than fixed rate loans.
How do you get the best bonus offer?
Check out our list of student loan bonus offers and see the terms. The best offers are typically for higher balance refinancing.
Can you refinance more than once?
Yes, you can refinance as often as you would like to. However, you usually cannot refinance again at the same lender.
I am America’s Student Loan Debt Expert and have been actively writing about and covering student loans since 2009. Myself and the team here at The College Investor have been actively tracking student loan providers since 2015 and have reviewed, tested, and followed almost every provider and lender in the space.
Furthermore, our compliance team reviews the rates and terms on these listing every weekday to ensure they are accurate. That way you can be sure you’re looking at an accurate and up-to-date rate when you’re comparison shopping.
Remember, don’t choose a student loan refinancing company simply because of their bonus or promotional offer. The interest rates, term, and fees can make a big difference and easily outweigh any bonus offer.
If you have Federal student loans, remember, it typically doesn’t make sense to refinance federal loans into private student loans.
At the end of the day, if you’ve already found a lender with a great rate and term that matches your needs – then get paid for using them!
Splash Financial
¹Terms and conditions apply. Offer is subject to lender approval. To receive the offer, you must: (1) be refinancing over either $50,000, $100,000 or $200,000 in student loans depending on the channel partner that is providing the bonus offer (2) register and/or apply through the referral link you were given; (3) complete a loan application with Splash Financial; (4) have and provide a valid US address to receive bonus; (5) and meet Splash Financial’s underwriting criteria. Once conditions are met and the loan has been disbursed, you will receive your welcome bonus via a check to your submitted address within 90-120 calendar days. Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. Splash reserves the right to change or terminate the offer at any time with or without notice. Bonus Offer is for new customers only.
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Student loan lenders can offer cash bonuses and promotional offers when you refinance a student loan with them. Many of...
